Tesco has long been known as a go-to destination for groceries. However, many people may not know that Tesco has expanded into other areas such as banking and insurance, with the launch of Tesco Personal Finance. But is it worth the switch from their current financial provider to Tesco?
One of the major advantages of Tesco Personal Finance is their range of products. They offer credit cards, loans, insurance, and savings accounts, all of which offer competitive rates when compared to other major financial providers. In addition to this, they also offer Clubcard points for every pound spent, which can be redeemed for money off in-store or online purchases.
In terms of credit cards, Tesco offers a range of options to suit all types of customers. From the balance transfer credit card to the Purchase credit card, every card offers its unique benefits and advantages. For instance, the balance transfer credit card offers 0% interest for 24 months on balance transfers, while the purchase credit card allows customers to spread the cost of purchases with 0% interest for up to 20 months.
Moving on to loans, Tesco Personal Finance offers unsecured personal loans starting from £1,000 up to £35,000. They also offer a loan calculator on their website, which allows customers to see how much they could borrow and the interest rate they would be charged.
When it comes to insurance, Tesco Personal Finance has you covered. They offer car insurance, home insurance, pet insurance, and travel insurance, all with competitive rates and added benefits. For instance, with car insurance, customers can enjoy a range of benefits including a guaranteed discount for Clubcard customers, a 24-hour UK-based accident helpline, and a range of optional extras to tailor their policy.
In terms of savings, Tesco Personal Finance offers a range of savings accounts, including instant access savings, fixed-rate savings, and cash ISAs. They also offer a range of bonds and child savings accounts, all with competitive rates and benefits. For instance, their instant access savings account offers 0.50% AER variable interest on balances from £1 up to £10,000.
So, is it worth the switch? Based on the above, it’s clear that Tesco Personal Finance offers a range of competitive financial products and services, all of which offer added benefits and advantages. In addition to this, their Clubcard points program adds even more value to using their financial products. However, it’s important to do your own research and compare the rates, benefits, and advantages of Tesco Personal Finance against your current financial provider to make an informed decision.
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